Apple (NASDAQ:AAPL) Price Target Raised to $296.00 at JPMorgan Chase & Co.

Apple (NASDAQ:AAPL) had its price target lifted by JPMorgan Chase & Co. from $290.00 to $296.00 in a report published on Monday morning, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the iPhone maker’s stock.

AAPL has been the subject of a number of other reports. Sanford C. Bernstein set a $205.00 target price on shares of Apple and gave the stock a hold rating in a research note on Tuesday, September 3rd. Macquarie set a $210.00 target price on Apple and gave the stock a hold rating in a report on Tuesday, September 10th. Rosenblatt Securities set a $150.00 price target on Apple and gave the company a sell rating in a research note on Friday, September 13th. Loop Capital boosted their price target on Apple to $250.00 and gave the company a hold rating in a report on Thursday, October 31st. Finally, Goldman Sachs Group set a $192.00 price objective on Apple and gave the stock a neutral rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Apple presently has a consensus rating of Hold and a consensus target price of $244.70.

AAPL opened at $264.16 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. Apple has a 12 month low of $142.00 and a 12 month high of $268.25. The company has a fifty day simple moving average of $254.25 and a 200 day simple moving average of $216.58. The stock has a market cap of $1,187.46 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.90 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.19. The firm had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.91 earnings per share. On average, equities research analysts expect that Apple will post 13.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, November 7th. Apple’s payout ratio is currently 25.90%.

In other news, Director Arthur D. Levinson sold 37,394 shares of Apple stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the transaction, the director now directly owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 12,459 shares of Apple stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total value of $2,915,904.36. Following the transaction, the senior vice president now owns 57,819 shares of the company’s stock, valued at $13,531,958.76. The disclosure for this sale can be found here. Insiders have sold 182,998 shares of company stock valued at $42,351,593 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Avondale Wealth Management boosted its position in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after acquiring an additional 64 shares during the period. NuWave Investment Management LLC boosted its holdings in Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. boosted its holdings in Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Kahn Brothers Group Inc. DE bought a new stake in Apple in the 3rd quarter valued at about $112,000. Finally, Belvedere Advisors LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $119,000. 59.19% of the stock is owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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